EURUSD Mid-Day Forecast Nov 07 2014

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Intraday Outlook in EURUSD has turned neutral with risk to the downside , resistance comes at the 1.2441 levels , a failure to hold above the 1.2441 levels on a 4 hour closing basis could mean a return to the 1.2357 levels , a cut will open 1.2300 levels , a halt is likely , but further losses will pave the way towards the  1.2222 levels ahead of the 1.2140 levels.

On the upside , a clear break above the 1.2441 levels on a 4 hour closing basis will put the pair in recovery mode , but recovery above the 1.2441 levels should be limited by the 1.2480/1.2576 levels.

In all , as long as resistance 1.2441 holds on a 4 hour closing basis , Intraday outlook in EURUSD remains on the downside towards the 1.2300 levels ahead of the 1.2222 levels , above 1.2441 , It faces a recovery risk towards the 1.2480/1.2576 levels before the next fall.

 

EURUSD Mid-Day Forecast Nov 07 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS